Sensex likely to maintain current momentum

Mumbai, Oct 15: The upward trend on the Bombay Stock Exchange has been primarily due to strong FII inflows, bolstered by the performance of second quarter results, and strong global cues, and is likely to continue in the coming week.

FII inflows during the month till October 11, totalled Rs 1,628.60 crore. Mutual funds sold shares of net worth Rs 34.11 crore till October 12.

Meanwhile, last week saw three other stock markets breach all time high figures between Oct 12 and 13 -- Dow Jones, the key benchmark index in Singapore, and Hong Kong's Hang Seng, along with BSE were part of the upward trend that was witnessed across the globe.

However, with the second quarter results in process, it is expected the earning season will drive the high net worth individuals to toss-up their existing portfolios depending on the company performance.

Major results scheduled next week are TCS, HCL, HDFC Bank, Bajaj Auto, Grasim, Hindalco, Wipro, ACC, HDFC, L&T, Reliance Industries, Ranbaxy, ONGC, Reliance Energy, and Satyam Computer.

Besides, the declining crude oil price, which has fallen from the July high of US Dollar 78 per barrel to current US Dollar 58.25, will help the inflation figures come down sooner or later. Though the current inflation rate at 5.16 per cent suggests otherwise, experts believe if the crude price settles at US Dollar 55 per barrel mark, then it will have a noticeable impact on inflation figures.

Overall, the coming week will have lot in store rightly on the positive side, volatility is not ruled out, it's now an integral part of modern day trading.

UNI

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